Financial Statements Notes to the Financial Statements 17. LOANS AND BORROWINGS (continued) Secured redeemable non-convertible debentures On 19 December 2024, Fortis had issued listed, senior, secured, rated, redeemable, Non-Convertible Debentures (“NCDs”) amounting to INR15.5 billion (equivalent to RM819 million) to fund its purchase of stake from certain non-controlling interests of Agilus Diagnostics Limited (“Agilus”). These NCDs are secured by first ranking charge over requisite number of equity shares of Agilus with minimum security cover of 1.33x of the outstanding NCDs. As at 31 December 2024, there were three series of NCDs issued amounting to INR15.5 billion (equivalent to RM819 million) and is redeemable annually in multiple tranches from December 2026 to December 2029. Unsecured floating rate medium term note On 1 November 2024, Pantai Holdings Sdn. Bhd. had put in place a RM15 billion Sukuk Wakalah Programmes (“Sukuk”) to finance its investments, acquisitions, capital expenditure, working capital requirements, repayment/refinancing of its borrowings, and for general corporate purposes. As at 31 December 2024, there were ten outstanding unsecured floating rate notes issued under Sukuk amounting to RM4 billion, with maturity dates between 2025 to 2027. Unsecured fixed rate medium term notes PLife REIT has through its wholly owned subsidiary, Parkway Life MTN Pte. Ltd. (“PLife MTN”), put in place a SGD500 million Multicurrency Debt Issuance Programme, to provide PLife REIT with the flexibility to tap various types of capital market products including issuance of perpetual securities when needed. Under the Debt Issuance Programme, PLife MTN is able to issue notes while HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of PLife REIT) (“PLife REIT Trustee”) is able to issue perpetual securities. All sums payable in respect of the notes issued by PLife MTN are unconditionally and irrevocably guaranteed by PLife REIT Trustee. As at 31 December 2024, there were four series of outstanding fixed rate notes issued under the Multicurrency Debt Issuance Programme amounting to JPY17.8 billion (approximately RM510 million) (2023: JPY17.8 billion (approximately RM580million)) with maturity dates between 2027 to 2030 (2023: 2027 to 2030). Loans from corporates The HKD-denominated loans from corporates are in relation to the non-controlling interest’s share of financing granted to a subsidiary, GHK. IHH Healthcare Berhad | Annual Report 2024 168
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